Qingling Motors Co., Ltd. provided unaudited consolidated earnings guidance for the six months ended 30 June 2020. The board of directors of the Company wishes to inform the shareholders of the Company and potential investors that, based on the preliminary assessment of the unaudited consolidated management accounts of the Group for the six months ended 30 June 2020 and the information currently available to the Board, the Group is expected to record a decrease in net profit for the six months ended 30 June 2020 of approximately 50% to 60% as compared to that in the corresponding period in 2019. The expected decrease in net profit was mainly attributable to the negative impact of the novel coronavirus (COVID-19) pandemic on the market sentiment and business environment, affecting the sales volume of vehicles of the Group for the six months ended 30 June 2020. In spite of this, the Group's overall operation, financial position and cash flow remain solid.